Report pins the annual cost of cybercrime at $445 billion

Monday, June 09, 2014 3:28 PM

Cybercrime is costing the global economy $445 billion a year, according to a report released today by the Center for Strategic and International Studies,VentureBeat reported. The report marks one of the first attempts to quantify the effect of cybercrime on the world economy. The biggest losers, including the United States, China, Japan, and Germany, suffered an estimated $200 billion a year in losses. The report was sponsored by McAfee Inc., a computer security software company.